Ukraine resumes large-scale privatization

On 30 March 2021, the Ukrainian Parliament amended the Law of Ukraine “On Privatization of State and Municipal Property” (these amendments must come into effect soon). The amendments excluded the paragraph of the mentioned Law, which temporarily suspended, for the period of COVID-19 quarantine and relevant restrictive measures, to hold auctions for the sale of large-scale privatization objects. Accordingly, the privatization process can be launched with respect to the mentioned objects.

The list of the large-scale privatization objects includes, among others:

• companies of the energy sector (Public Joint Stock Company “Centrenergo”, Joint Stock Company “Kharkivoblenergo”, Public Joint Stock Company “Odesa CHP” (Odesa heat and power central station) etc.);
• Public Joint Stock Company “Odesa Port Plant”;
• Joint Stock Company “First Kyiv Machine-Building Plant”;
• Private Joint Stock Company “President Hotel” et cetera.

The full list of the large-scale privatization objects (in Ukrainian) is available at http://www.spfu.gov.ua/userfiles/files/rozporiad_v.pdf.

The below provides only general overview of certain aspects of the Investment Law and doesn’t constitute an advice.